Baku: The Asian Development Bank (ADB) carries out approximately 8 billion dollars of private sector investments annually, and we intend to increase this, said Marina Rose Best, the Asian Development Bank’s Country Director for Azerbaijan and Turkmenistan, during a panel discussion on the third day of the Baku Climate Action Week (BCAW2025), APA-Economics reports.
According to Azeri-Press News Agency, Best highlighted specific initiatives in Azerbaijan aimed at strengthening cooperation with the private sector. In 2023, ADB allocated a $10 million loan to the Veyseloglu company to enhance the delivery of products along the value chain to the market. This initiative included a climate component, allowing the company to purchase electric refrigerated trucks for food transportation, which improved logistics efficiency by storing different products at various temperature regimes.
In addition, ADB provided a $500,000 technical assistance grant to enable farmers to participate in the value chain. In 2021, the bank approved a $20 million loan for “M?kt?b?q?d?r Subika” to bolster microfinance services for small farmers. The same year, a $5.9 million loan was allocated to the Avrora company, supporting the logistics and market access value chain for agricultural products.
The ADB official emphasized the importance of private sector cooperation in supporting agriculture and expressed the bank’s commitment to increasing its involvement in Azerbaijan. “We are fully open to working with the private sector and ready for partnership,” she added.